
Elsevier UK Jobcode:QMS Chapter:ch01-h6839 31-7-2007 9:07a.m. Page:2 Trimsize:165
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2 MDDL and the Quest for a Market Data Standard
MDDL has been designed to support the data interchange of financial market
information, known as market data, and, more specifically, the investment decision-
making, reference data management and market reporting processes. The MDDL
mission statement defines the intended usage context as being ‘The XML
specification to enable the interchange of information necessary to account, to
analyse, and to trade financial